IRESS Ltd

IRE: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$38.00	Fchbxn	Bfybxyglv

Corporate Action: IRESS Shareholders Should Apply for its Share Purchase Plan

Jun 3, 2020

We have maintained our fair value estimate for narrow-moat-rated IRESS at AUD 11.00 per share following its AUD 150 million institutional placement, and AUD 107 million all-cash takeover offer for OneVue Holdings (ASX: OVH) via a Scheme of Arrangement. The institutional placement has a negligible impact on our fair value estimate because it is small relative to IRESS’ equity value, and the AUD 10.42 placement price is close to our fair value.

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To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

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United States